Following on the heels of CEO Tim Cook’s updates on Siri, the App Store and iCloud, Apple’s Eddy Cue moves on to discuss the new Apple TV, which brings 1080p video playback from iCloud and a “gorgeous” new interface.

While Apple does its best to conceal when new products will be released, there’s one pretty sure-fire way to know when an upgrade to an existing product is coming: Stock availability. In the case of the second-generation Apple TV, the little black box appears to be out of stock almost everywhere -- a fair indication that a new model is likely to be introduced on Wednesday.

It's not too late in the day for a little rumor talk. Engadget is reporting that the upcoming Apple TV will lose the previously rumored 1080p playback ability, but will gain a slew of its own kind of apps. Also, Apple TV is ditching its former name, as it will now be referred to as iTV.

The new set top box should cost $99 and come equipped with the same innards as the iPhone 4, as well as 16GB of flash storage and a new iTunes streaming service. Which is great, but what's the deal with no 1080i or 1080p video? Instead, it will only be able to handle 720p clips. It's alleged that the iPhone 4's A4 processor isn't enough to handle the output of such high resolution video, which makes us a little teary eyed.

If you flipped over the Flip pocket-size video cameras, there’s a new
contender worth your attention. Kodak’s Zi8 replaces the Zi6, bringing
full HD 1080p capabilities to a small, well-designed package that fits
in your pocket but does more than its competition.

As the Apple fanboy elite, our favorite product to mock is the
Microsoft Zune, but with the introduction of the Zune HD, they who must
not be named may have a one-up over the current line of iPod touches,
bragging that they can plug one into their TVs and playback 720p HD
video.